The full extent of the new owner’s ambitious development plans for the 2 240 ha Boschendal Estate has not, as yet, been grasped by the general public, said CEO Clive Venning and Graham Johnson, managing director of the Boschendal Property Development Company.
"Thus far the media has focussed on the sale
– for R323-million – by Anglo American Farms to the consortium that, since November 1 last year, has become the new owner and, to a lesser degree, on the deal by which Nedbank Corporate will help fund the purchase and the development work," said Johnson."However, the general public will over the next few months become aware that what the leader of the new consortium, Clive Venning, and his team propose here is a development programme that could run for ten years and that could result in R2-billion worth of land sales and in a staggering R3,8-billion in total property development."
The first phase of the consortium’s plan involves bringing 20 Founder’s Estates to the market. These are being developed on the 917 ha of the Boschendal section of which the new owners have already taken transfer.
Included in this section are the Boschendal homestead, which dates back to
1685 and which was comprehensively renovated by Amfarms, the winery, which produces over 300 000 cases (3,6-million bottles) and the three restaurants, Le Café, The Pavilion and the Taphuis, which together serve some 100 000 meals each year.
The Le Pique Nique, part of the deal, is also responsible for the popular outdoor picnics enjoyed throughout the summer by visitors to Boschendal.
Included in this section of the purchase are the historic Le Rhone (1760) and Good Hope (1820’s) homesteads, as well as all the farm equipment the premier wine growing area on the estate and all 11 dams.
Phase 2 of the new owners’ plan involves taking over the remaining 1 337ha.
This will be done once planning permission has been received which could take another 18 to 24 months
– but it is on this section that large-scale residential development will take place.The consortium plans to develop a 300-unit retirement village and some 400 farmyard-style villages on the footprints of 30 existing farm villages, which will, in most cases, be demolished.
In essence, said Johnson, this means that Boschendal will be a premium, low-density development, which blends and complements the surroundings, has a very low effect on the landscape and is sensitive to the environment and local community.
The entire agricultural unit continues to be managed and farmed by Boschendal and this is entrenched through a notarial lease on the land.
Purchasers will receive a rental from the farming operation - the ultimate in 'gentleman farming'.
The plots, which will vary in size from 1 250 m2 to 10 000 m2 will be selling between R2-million and R8-million, and the homes built on them will, in all probability, cost as much or more, giving an average value for the plot and homes of some R4-million or R5-million.
"I predict that these farmyard village homes will become some of the most sought after in the entire Western Cape," said Venning.
Also included in the long-term plan for Boschendal are a 50-room boutique hotel, with a value of approximately R100-million, and a commercial, retail and office centre, which could involve an investment of some R150-million.
2004/04/26 Enginering News
Publisher: Engineering News
Source: Engineering News
